(TheNewswire)
Victoria, BC / TheNewswire / December 20, 2018: Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) ("TUC"- Frankfurt) is pleased to provide results from various 2018 exploration programs carried out on six of its properties in the Golden Triangle region of northwestern British Columbia. Work done in the last season includes two small drill programs on the Pearson and Mach properties, as well as prospecting programs on four additional properties all of which showed some indications of VMS mineralization. The Company also carried out extensive ZTEM airborne surveys which were intended to guide the 2018 drilling and also to define new targets; due to delays by the contractor in getting equipment to site, this information was not available in time, in fact, the Company is still awaiting receipt of 3D inversions.
Following are summaries of exploration results, including geological descriptions and recommendations largely excerpted from a summary report to the Company by geologist, Ken Konkin.
Pearson Property
Three diamond drill holes were attempted on a 2010 airborne geophysical anomaly estimated to be at least 300 meters deep (vertical). None of the three BTW diamond drill holes reached their intended target depths. The longest drill hole completed was PR-03 which, at 316.08 meters (drilled on a -70 dip angle), was lost within a major regional fault short of the target horizon. No anomalous values were obtained within the black siltstones, tuffs and minor andesitic dykes and sills encountered in the holes.
However, during the prospecting and sampling program a grab sample taken from the center of a 70cm wide polymetallic quartz veins returned 54.5 g/t gold, 87.8 g/t silver with 7.54% lead. Furthermore, a piece of talus scree was sampled that appeared to contain layered magnetite with chalcopyrite in textures characteristic of VMS mineralization. This scree sample contained 2.54% copper with 27.2 g/t silver and anomalous gold (414 ppb). These two samples came from cliff faces that are believed to be the surficial expression of the Triassic-Jurassic regional fault known as the Kyba Red-Line, also believed to be the same contact that hosts the Granduc-Leduc copper VMS deposit occurring along trend to the south-southwest on an adjoining property.
Follow-up work in 2019 will concentrate efforts along this Triassic-Jurassic contact, including further prospecting, sampling and geological mapping. The 2018 diamond drilling took place approximately a kilometer to the east of the Kyba Red Line along a parallel trend and did not test these important targets discovered during the 2018 reconnaissance prospecting program. Geological technicians with rappelling and climbing experience are required to safely traverse and sample these copper-stained bluffs. Based on favorable results, a diamond drill hole program may be recommended to intersect both the polymetallic auriferous veins as well as the potentially mineralized copper VMS horizon that may be exposed along the Pearson bluffs.
Mach Property
Two holes were completed on the Mach property, the first 316.1m and the second 281.2m. They were designed to test several narrow high-grade gold and copper bearing structures that occur within a very well silicified and epidote altered package of volcanics, microdiorites and intrusive dykes. Significant disseminated pyrite and pyrrhotite mineralization was intersected along with several shear zones. The first hole, MC-01 was directed to intersect high-grade copper structures sampled on surface. The best values obtained were 1.03% and 1.63% Cu both over 1.0m widths. The actual stringers were only 3-5 cm in width and contained strong chalcopyrite, pyrite, pyrrhotite mineralization with trace bornite.
MC-02 was drilled to intersect a quartz-iron carbonate breccia vein that yielded 88.2 g/t gold (sampled over historical site 710848 which reported 68.6 g/t gold) over a 25cm true width. The structure is an intense breccia vein with sharp angular dolomitic limestone fragments in a quartz-iron carbonate matrix with no visible sulphides. The 200m step-out drill hole southwest of this target only intersected fault gouge with iron carbonate and weak copper staining on fracture planes of the gouge. It is recommended that continued prospecting, mapping and sampling be completed to better understand these high-grade copper and gold systems at the elevation of these occurrences
Orion Property:
These claims cover a long spine of rocks exposed within the upper reaches of the Frank Mackie icefield. The focus of the 2018 reconnaissance program was to examine areas freshly exposed by rapidly receding glaciers and icefields. The highest gold value obtained was 31.1 g/t and the highest silver value obtained was 778 g/t. The high gold value came from an outcrop that contains oxidized quartz-sulphide stringers, pods and veinlets in a hornfels volcanic/siltstone while the high silver value was from a grab sample of a float boulder located on a glacial moraine which contained white to greyish quartz with minor jasperoidal quartz and 2-3% disseminated and veinlet pyrite. Strong iron oxide is associated with the boulder.
Importantly, a significant train of angular massive pyrite boulders up to several tonnes in size were located and sampled. The stratified pyrite boulders had shards or fragments of black mudstone in a grey silica matrix, with textures suggesting a VMS origin. These boulders were anomalous in antimony, two of which returned values of 908 and 1280 ppm Sb. This train appears to have come from the northern limits of the Orion spine. Continued efforts are recommended to trace the source of these very angular boulders of massive pyrite. Furthermore, the zone that contains the 31.1 g/t gold needs to be further explored to determine if it’s part of a larger system. Mapping and continued sampling and prospecting is recommended for the Orion Project in order to define drill targets.
Fairweather Property
Minor work was completed on the main gold-showing discovered in the late 1980’s wherein several targets were trenched utilizing an Atlas Copco portable Pionjar drill and explosives. The main showing was visited and re-sampled during mid-August of 2018. The showing is a small exposure of what may be an exhalative event exposed for several meters along a northerly strike. The narrow pale grey silica horizon appears to be dipping shallowly 22 degrees to the west and is capped by a fresh massive andesite unit that exhibits a limonitic and oxidized quenched contact to the exhalative horizon. The lower contact of the siliceous horizon is composed of a clean white massive calcite layer several centimeters thick.
The host geology approximately 25m downslope from the showing is a pebble conglomerate in a gritty mudstone matrix displaying a weakly schistose tectonic fabric. Between this sediment and the siliceous horizon, a piece of float or possible sub-crop was discovered approximately five meters below the exhalative. The 20 by 30cm piece of hydrothermal veinlet quartz breccia stockwork contained 9.3 g/t gold with 2.43% zinc along with brecciated fragments and shards of black argillitic mudstone. To a lesser extent these same small brecciated black mudstone/siltstone fragments also occur within the siliceous overlying horizon (which yielded 5.83 g/t gold over a 50cm vertical chip sample with anomalous zinc values). Both samples recorded silver values between 20.5 to 51.2 g/t along with anomalous arsenic values.
It is possible that this sample of hydrothermal breccia is part of the feeder system to the upper, gently-dipping, siliceous exhalative. Further work is recommended to excavate the strike extensions of the showing to determine if the zone continues as well as to follow out the upper contact of overlying fresh medium green andesite and to map and sample the entire contact exposure.
The Fairweather showing is located north of the Four J’s property across the Frank Mackie Glacier. It roughly lines up on a northerly trend to the VMS discovery on the Four J’s. Continued mapping and prospecting efforts are recommended for the Fairweather project in order to better define drill targets.
Four J’s Property
Reconnaissance work was concentrated on areas freshly exposed by ablation of the local small icefields and glaciers. Three new discoveries of massive pyrite veins/seams or pods within a 50m radius yielded 10.8 to 16.3 g/t gold values. Some of these were found just at the edge of the ablating ice fields. The zones appeared to be structurally controlled, massive pyrite veins in a pale grey to white silica matrix and were narrow, all less than a meter in width. They had similar 205 to 212 degree strikes with moderate dips to the west-northwest, very similar to the Fairweather horizon that had a 200 degree strike with a 22 degree dip to the west-northwest.
The host rock at the Four J’s appeared to be a very siliceous siltstone/mudstone or possibly an ash tuff. Given the similarity in gold values associated with massive pyrite within siliceous matrices and the very similar tectonic orientations of the Four J’s and Fairweather showings, further work is recommended for the Four J’s. The area can be accessed by quads along an old drill road leading from the Granduc Mill site road.
This property needs to be mapped in detail as well as prospected particularly within the areas of the recession of ice and snow. The main VMS occurrence at the Four J’s that was drilled in 2012 needs to be put into geological context to these new showings in order to determine if they are related.
The Four J’s property was previously under option to Rotation Minerals. A $30,000 payment due in August of 2018 was not made. It also appears that Rotation has not carried out the required work expenditure on the property due before the end of December, 2018. Although no formal notice has been given by Rotation to Teuton that the option has been or will be dropped, management of Rotation has verbally informed Teuton management that they will not be proceeding with the option.
Bonsai Property
This claim group, located between the former Eskay Creek mine (a high-grade gold and silver VMS deposit) and the recent Garibaldi nickel discovery, is underlain primarily by felsic and rhyolitic volcanics as well as black bedded siltstones and mudstones. Follow-up work focused on the main showings discovered during small prospecting programs conducted in the early 1990’s.
The main occurrence is a pale grey, pyritic siliceous horizon exposed for several meters within a black layered siltstone/mudstone host. Gold values as high as 3.68 g/t gold were obtained from a grab sample taken from semi-massive pyrite pods. A 1.4m chip sample across the same site ran 1.79 g/t gold. Six rock samples taken from within a 25m radius had elevated arsenic levels that ran between 380 to 928 ppm and all but one sample had anomalous gold values.
This is a very significant discovery given the proximity to the Eskay Creek VMS mine, with a similar geological setting. It appears that the gold values within the pyritic siliceous material may be related to an exhalative event as part of volcanogenic system. Clearly further work is recommended for this project. Given the lack of good outcrop exposure and prominent tag-alder cover with thin soil and glacial moraine that covers much of the area of interest, a soil sampling program is recommended. Also recommended is a property-wide mapping and sampling program. If results are positive, a diamond drill hole program may then be proposed.
D. Cremonese, P.Eng. is the Qualified Person for the purposes of this news release. As president of Teuton, he is not independent of the Company.
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Ten of its properties are currently under option and cash proceeds from these options are just under $2 million since 2015, not including the value of shares received from the optioning companies. Shareholders and other interested parties can access information about Teuton at the Company’s website, www.teuton.com.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
For more information contact Investor Relations at 778-430-5680 or barry@teuton.com. If you would like to be added to Teuton’s news distribution list, please send your email address to dino@teuton.com
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Teuton Resources Corp. does have an ongoing obligation to disclose material information, as it becomes available.
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